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Aquesta Bank Review

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Aquesta Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 2006, Aquesta Bank has $405 million in assets as well as $305 million in deposits, which makes the institution a small bank. Aquesta Bank, whose headquarters are in Cornelius, North Carolina, lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. At a SmartAsset rating of 3.5 out of 5 stars, Aquesta Bank should be more closely inspected to see if its services match your needs. Aquesta Bank provides customers with a full choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking account maintains a $10.00 monthly fee, which ranks on the higher end of monthly fees. Institutions that offer free checking and a high interest rate savings account are your best option for gaining the highest income from your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

3.5/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.0
SmartAsset Average: 3.5

Aquesta Bank has a savings rate of 0.10%, which is poor compared to the national average. Aquesta Bank's CD rates are 0.50% and 0.75% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.80%. Given Aquesta Bank's poor savings rate, you should consider opting for higher earning savings accounts with other banks.

How Aquesta Bank's Savings Rates Compare

Aquesta Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

2.0
SmartAsset Average: 4.4

On average, Aquesta Bank charges customers high fees compared to other U.S. banks. At $10.00 per month, Aquesta Bank's checking account is not the best product for people who want a hassle-free checking account. Aquesta Bank unfortunately doesn't reimburse out-of-network ATM fees, which means you'll have to find an Aquesta Bank ATM or eat the fee.

Monthly Fee $10.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

4.1
SmartAsset Average: 3.7

Aquesta Bank is a brick-and-mortar bank, with seven total branches in North Carolina. It also offers access to mobile and web apps for straightforward access and banking on the go. Aquesta Bank receives moderately high praise from customers for its mobile platform. The Aquesta Bank mobile app is rated at 4.3 out of 5 (out of 6 reviews on iOS and Android) compared to the national average of 3.8. Aquesta Bank's mobile app allows you to manage your finances by reviewing current statements, sending and receiving money and accessing support representatives. Aquesta Bank gets a superb consumer satisfaction score due to relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

5.0
SmartAsset Average: 4.8

Aquesta Bank ranks as a small bank owning $405 million in assets as well as $305 million in deposits. Its Texas Ratio is 0.08%, indicating a minute likelihood of failure. Additionally, Aquesta Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Aquesta Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $100
Checking Account 0.02% APY $5000
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 2.20% APY
  • 48 Month: 2.01% APY
  • 60 Month: 0.75% APY
$1000 for all terms
Money Market Account 0.8% APY $25001

Aquesta Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Aquesta Bank does not have the best savings rate, which means you should think about other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Aquesta Bank's CD rates are fair in comparison to the national average.

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Find a Aquesta Bank Near Me

Aquesta Bank has seven physical locations across the U.S.

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